Loan Conversion & Director/PDMR Shareholding
Shuka Minerals Plc announces that CEO Richard Lloyd has converted a £100,000 loan into 2,500,000 new ordinary shares at 4 pence per share, and has been granted warrants for another 2,500,000 shares at an exercise price of 8 pence, exercisable by July 2029. Following this conversion, Mr. Lloyd beneficially owns approximately 3.10% of the company's issued share capital, which will total 175,548,474 ordinary shares upon admission of the new shares to AIM, expected around October 8, 2026.
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Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, announces that, further to its announcement of 18 September 2026, it has received a conversion notice from Richard Lloyd, CEO of the Company.
Mr Lloyd has elected to convert all of the Loan that was assigned to him being an aggregate principal amount of £100,000 into 2,500,000 new ordinary shares of £0.01 each in the capital of the Company (the “Conversion Shares”), at the agreed conversion price of 4 pence per Conversion Share.
In accordance with the terms of the Loan, the Company has also granted Richard Lloyd warrants to subscribe for an aggregate of 2,500,000 new ordinary shares at an exercise price of 8 pence per share. The warrants are exercisable on or before 20 July 2029.
Following Admission (as defined below), Richard Lloyd is beneficially interested in 5,442,136 ordinary shares in the Company, representing approximately 3.10% of the Company’s issued share capital.
Admission and total voting rights
Application will be made to the London Stock Exchange for the Conversion Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in the Conversion Shares will commence at 8.00 a.m. on or around 8 October 2026. The Conversion Shares will rank pari passu in all respects with the Company’s existing ordinary shares.
Following Admission, the Company’s total issued share capital will comprise 175,548,474 ordinary shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury.
Accordingly, the figure of 175,548,474 may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Shuka Minerals CEO, Richard Lloyd, commented: “I am pleased to continue to increase my stake in the Company and I am committed to drive value for all shareholders.”
The Directors of Shuka are responsible for the contents of this announcement.
| 1 | Details of the persons discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Richard Lloyd | ||||
| 2 | Reason for the notification | |||||
| a) | Position/Status | Chief Executive Officer | ||||
| b) | Initial notification/ Amendment | Initial | ||||
| a) | Name | Shuka Minerals plc | ||||
| b) | LEI | 213800DBIRLNVAHNDU21 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1 pence each GB00BN47NP32 | ||||
| b) | Nature of the transaction | Issue of Conversion Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | As above | ||||
| e) | Date of transaction | 6 October 2026 | ||||
| f) | Place of transaction | Off-market | ||||
| 1 | Details of the persons discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Richard Lloyd | ||||
| 2 | Reason for the notification | |||||
| a) | Position/Status | Chief Executive Officer | ||||
| b) | Initial notification/ Amendment | Initial | ||||
| a) | Name | Shuka Minerals plc | ||||
| b) | LEI | 213800DBIRLNVAHNDU21 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Warrants over Ordinary shares of 1 pence each GB00BN47NP32 | ||||
| b) | Nature of the transaction | Issue of warrants in connection with the Loan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | As above | ||||
| e) | Date of transaction | 6 October 2026 | ||||
| f) | Place of transaction | Off-market |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.